Vendor Balance Year End (AP199)
Run Vendor Balance Year End (AP199) at the end of the fiscal year to establish new vendor group period ending dates for a vendor group and transfer current year vendor balances to last year. Vendor group period ending dates are used to track vendor purchase and payment balances by period and year within the Accounts Payable application. Establishing new period ending dates is the only year-end closing function of the Accounts Payable application.
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The application lets you enter invoices for the new year before you run AP199. Invoices with invoice dates in the new year are temporarily held in a 14th period balance field. When you run AP199, 14th period balances are transferred into the first period of the new year.
Before you run AP199, make sure:
- All invoices for last year are released.
- All cash payments for last year are updated by AP170 (Payment Closing).
- All bill of exchange payments for last year are updated by AP180 (Bill of Exchange Cashing Update).
- All invoice and tax distributions are updated by AP175 (Invoice Distribution Closing).
- All bill of exchange distributions are updated by AP185 (Bill of Exchange Distribution Posting).
- All invoices for voided payments are reinstated through AP190 (Invoice Reinstatement).
- All company-paid employee expense distributions are updated by EE175 (Company Expense Posting).
- All cash ledger transaction distributions are updated by CB175 (Bank Transaction Posting).
If you run AP199 before releasing invoices and running these forms for last year, the transactions for these invoices and payments post to the Period One balance of the new year.
Run AP199 after the last period end date of last year and before the first period end date for the new year. If your fiscal year is the calendar year, run AP199 after December 31st and before January 31st.